2016 (10) TMI 526

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....s. H. Kabila, JCIT ORDER Per Chandra Poojari, Accountant Member By this stay petition, the assessee seeks stay of outstanding disputed demand of Rs. 88,79,161/-. 2. The ld. AR submitted that there was total outstanding demand of Rs. 1,38,79,161/-, out of which the assessee has already paid Rs. 50 lakhs and the balance is Rs. 88,79,161/-. Further, he submitted that in this case, there w....

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....erial on record. In this case, the assessee has paid substantial amount of Rs. 50 lakhs out of Rs. 1,38,79,161/-, which consisted of Rs. 98,35,011/- and Rs. 40,44,150/- towards tax and interest levied u/s.234A, 234B & 234C of the Act respectively. In view of this, we are inclined to grant conditional stay that the assessee shall pay Rs. 10 lakhs on or before 10.5.2016. Accordingly, recovery of bal....